Mastercard has just revealed plans to create a strategy for easy payment by making “tap and go” a standard in five years to come. This would ensure that consumers, brokers and governments can make transactions conveniently and safely. Later this year, an upgrade of cards and terminals would be required in countries across Africa, Middle East, Europe, Latin America, and Asia Pacific so as to bring this contactless card payment technology to a wider audience.
This means that with just a simple tap on your device or card, transactions can be made seamlessly every day. The fast and secure nature of contactless payments is going to be of great benefit to both merchants and consumers.
“Our vision is a world where everyone can simply and safely tap their card or device when paying in a store and quickly be on their way. This marks a significant step towards greater consistency, security and speed for everyday payments while laying the groundwork for future innovation.” said Ajay Bhalla, chief security solutions officer at Mastercard.